Pakistani Rupee further recovers against the US dollar in interbank and open markets

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KARACHI – The Pakistani currency further recovered its value against the U.S. dollar on Wednesday.

The local currency gained 6 paisa in the interbank and hit Rs156 against the greenback during the early trade hours. In the open market, it followed similar trend by gaining 5 paisa and hitting Rs156.15.

On Sunday, the World Bank forecasted Pakistan’s economic growth to slow down for the next two years as it faces yet another macroeconomic crisis due to massive twin deficits and low foreign reserves.